Thursday, August 24, 2006

Q&A: Financial Responsibility

The applications asks for Certificate of Financial Responsibilty. What exactly are they looking for and in what form? Do they expect , lets say a bank statement which has enough funds for say the first yr's expenses? I could bloat my bank balance temporarily just for the sake of the statement , would that hold? Also, can i use someone not related to me , say an uncle 's bank statement who happens to be in US?

With the bank statements they do really mean statement from bank mentioning your current balance and how long the account has been opened duly signed by the bank branch manager. As far as bloating the statements is concerned, you can do that but the same amount will be shown on your I-20. At the time of Visa the visa officer may ask you to show the sources of funds as depicted on the I-20 (may or may not be the case , depends on the visa officer). At that time you should have similar balances in the bank account. Also, you can show a foreign sponsor in your case the uncle you mentioned. However, in all circumstances you have to show the first year tuition payment capability by means of liquid funds available in your bank account.

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